Under Act 95 of 2016 (H.B. 1605), which became effective last Saturday, inactive individual retirement accounts (IRAs) can escheat to the Pennsylvania Treasury even though the account owner is under age 70-1/2 and not required to take distributions. Under the … Continue reading
Tag Archives: Individual retirement account
Individual retirement account of decedent over the age of 59-1/2 held to be taxable because the applicable of the federal estate tax unified credit, which excluded estate of $5,250,000 from federal estate tax, did not make account “exempt from Federal … Continue reading